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Is BTC About to Crash Toward $56K or Will the Bulls Step in Soon? – Bitcoin analysis by CryptoPotato Following a modest bullish rebound from the substantial $59K support level, Bitcoin encountered selling pressure, retracing back to the critical 100-day moving average at $61K. Analysis of the 4-hour chart reveals heightened buying pressure near the critical $58K mark, resulting in a bullish surge toward the $66K threshold. However, increased selling pressure around $66K led to a noticeable downtrend, bringing the price back to the crucial $60K support region. Presently, sellers are attempting to push the price below the significant $60K support level and the lower boundary of the wedge. If successful, it could signify a more sustained bearish phase, targeting the critical $56K support region. However, considering the prevailing market sentiment, Bitcoin may continue consolidating or experience slight lower-level declines before gaining sufficient bullish momentum to initiate a fresh upward trend. Traders should closely monitor price movements around these key levels for potential shifts in market sentiment. #BTC #bitcoinhalving #CryptoWatchMay2024 $BTC

Is BTC About to Crash Toward $56K or Will the Bulls Step in Soon? – Bitcoin analysis by CryptoPotato

Following a modest bullish rebound from the substantial $59K support level, Bitcoin encountered selling pressure, retracing back to the critical 100-day moving average at $61K.



Analysis of the 4-hour chart reveals heightened buying pressure near the critical $58K mark, resulting in a bullish surge toward the $66K threshold. However, increased selling pressure around $66K led to a noticeable downtrend, bringing the price back to the crucial $60K support region.

Presently, sellers are attempting to push the price below the significant $60K support level and the lower boundary of the wedge. If successful, it could signify a more sustained bearish phase, targeting the critical $56K support region.

However, considering the prevailing market sentiment, Bitcoin may continue consolidating or experience slight lower-level declines before gaining sufficient bullish momentum to initiate a fresh upward trend. Traders should closely monitor price movements around these key levels for potential shifts in market sentiment.



#BTC #bitcoinhalving #CryptoWatchMay2024

$BTC

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What you should know about io.net – 55th Binance Launchpool Project Following a loud Notcoin listing on Binance, WhiteBIT, and other top exchanges, Binance introduces io.net – the 55th project that uses the functionality of Binance’s Launchpool platform to initially distribute its tokens to the community before trading begins. Thus, users have the opportunity to claim a share of assets before listing. The total IO supply (during the Genesis phase) is 500 million. 4% is allocated for the campaign, and 19% for the initial circulation. The project has raised $30 million in a Series A funding round from Hack VC, Solana Ventures, OKX Ventures, and others. Project Outline: After the launch of the mining campaign, you need to staking BNB and/or FDUSD to claim a share of the IO token distribution. The maximum amount that can be distributed in one day is 5 million IO (4.25 million for BNB and 750,000 for FDUSD). The functionality works in such a way that the reward decreases with the increase of users. Therefore, to maximize the reward, you need to join the farming at the very beginning, when there are fewer stakers. You can also make a deposit in advance to qualify for IO from the start. A total of 20 million IOs will be distributed among the participants: BNB pool: 17 million IO (85%); fDUSD pool: 3 million IO (15%). How to participate in io.net launchpool: 1. Select the desired token pool (FDUSD or BNB) and click on it 2. After familiarizing yourself with the details, click Stake 3. Specify the desired number of tokens and confirm 4. Wait for the distribution to be completed. The tokens will be automatically transferred to the participants’ spot account. To potentially increase the number of tokens you receive, you need to make a deposit before the start or shortly after it. #Binance55thProject(IO) #TopCoinsJune2024 #BnbAth #altcoins $BNB $FDUSD
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BNB: will it reach $900? (note: the post contains data by AMBCrypto) BNB showcased a spectacular performance last week as the coin’s price reached an all-time high. If the latest data is to be believed, then this might just be the beginning, as BNB might continue its uptrend. However, bears stepped up in the last 24 hours. Will this impact the coin’s bull rally?  Though the aforementioned data looked optimistic, bears took control over the last 24 hours as the coin’s value dropped. According to CoinMarketCap, the coin’s price declined by over 1% over the last day. At the time of writing, the coin was trading at $699.13 with a market capitalization of more than $103 billion. This looked bearish, as generally, prices tend to move the other way than the funding rate. On top of that, BNB’s fear and greed index had a value of 87% at press time, meaning that the market was in an “extreme greed” phase. Whenever the metric hits that level, it indicates that the chances of a price correction are substantially high. AMBCrypto then checked BNB’s daily chart to see whether its bull rally was ending.  As per chart analysis, BNB’s Relative Strength Index (RSI) was in the overbought zone. This might increase selling pressure and, in turn, push the coin’s price down. The Chaikin Money Flow (CMF) also turned bearish as it registered a downtick.  Nonetheless, the MACD displayed a bullish advantage in the market. If BNB turns bearish, then investors might witness the coin’s price drop to $687, as liquidation would rise sharply at that level. #BnbAth #TopCoinsJune2024 #altcoins #Metaverse $BNB
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NOT: is 60% rally possible? – analysis by CoinPedia Notcoin has gained significant attention in recent items as the price surged monstrously. Now that the token faced a 25% pullback after a huge rise of nearly 3500%, the market participants appeared to be bewildered about the next price action. However, the current trade setup suggests the NOT price is accumulating strength and may trigger a healthy upswing in the next few days.  The NOT price has undergone a parabolic move since its inception and has achieved great highs. As mentioned above, the token maintained a descending consolidation for a while, which in turn flashed massive bullish signals. The retracement has compelled the price to form a bullish pennant and the levels have reached the apex of the consolidation, which suggests an extended bullish trend may be on the horizon.  The NOT price appears to have remained stuck within a range in the long term, while the short-term trade displays a huge possibility of a bullish breakout. The price is consolidating within a bullish pennant and one last pullback is expected to trigger a huge upswing after a breakout from the edge of the accumulation. Besides, the RSI remains stuck around the average range, while the MACD is about to enter the positive range with a bullish crossover.  Collectively, the Notcoin price continues to remain within the bullish range, regardless of the interim bearish pressures. Besides, the volume has also been experiencing excessive squeeze, which indicates the probability of a huge influx of volume in the coming days. With this, the NOT price could trigger a fresh upswing and reach the upper target at $0.03 initially and later hit the ATH at $0.035 before the end of June 2024.  #altcoins #Metaverse #Binance55thProject(IO) #Notcoin👀🔥 $NOT
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Solana (SOL): what's ahead? Solana (SOL) has experienced some recent positive price movements, and although the increases were slight, they impacted its market capitalization. There has been a slight dip recently, but if the momentum picks up again, it could establish a new market cap range. AMBCrypto’s daily analysis of Solana revealed recent consecutive uptrends. Between 3rd and 5th of June, the price increased from around $164 to approximately $173. At the end of trading on 5th June, SOL saw an increase of a little over 1%, trading at around $173.5. As of this writing, the price of Solana has fallen to around $172 after a decline of less than 1%. This seemingly minor drop resulted in nearly $1 billion being wiped off its market cap. Despite the price decline, the overall trend remains positive.  Analysis of the chart showed that the trend was still above the short moving average (yellow line), which served as immediate support at around the $160 and $154 price levels. Additionally, an analysis of Solana’s Relative Strength Index (RSI) indicates that it remains in a bull trend. As of this writing, the RSI is above 60, suggesting a continued bullish outlook. This current level also implies that SOL still has the potential for further increases. #altcoins #StartInvestingInCrypto #Metaverse #SolanaUSTD $SOL
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Pepe (PEPE) price analysis (note: the post contains data by Coingape) After rising to a new all-time high of $0.00001717 on May 27, the frog-themed meme coin is back on the move. It has in the last 24 hours, sustained a modest 2.7% increase to exchange at $0.00001475 toward the end of the European session on Thursday. Based on CoinGecko data, PEPE is climbing quickly to reclaim the all-time high as support while bulls look toward a breakout to $0.00002. The four-hour chart reveals an ascending triangle pattern, which if validated can lead to a 15% move in the price of Pepe. This triangle has been forming as the token consolidate in the wake of the rally to the record high. An ascending trend line affirms the strengthening bullish grip while the horizontal line or x-axis represents the resistance. Bulls have tried to break through this hurdle with no success. Nonetheless, the triangle is still valid as long as the price is within its boundaries. Traders would be ready with buy orders slightly above the x-axis. Such a breakout should be accompanied by high volume. The 15% move will propel PEPE price to $0.0000178 and possibly create FOMO among investors wishing to jump onto the trend. This triangle can be the beginning of a larger rally above $0.00002. Conversely, immense selling pressure could engulf Pepe if the ascending trend line weakens, paving the way to a breakdown. Two levels; $0.000014 and $0.000013 will come in handy and may stop the fall but traders cannot rule out an extended move to $0.00001 just yet. #Binance55thProject(IO) #StartInvestingInCrypto #altcoins #pepe⚡ #PEPEATH $PEPE
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